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Taylor Swift removed her music from Spotify last year
Spotify, which has more than 60m active global users,Kicksokok.com, of whom 15m are paying customers, accounted for 49pc of global streaming subscriptions in 2014.
“Although Spotify accounted for almost half of global streaming subscriptions last year, we think the latest valuation is premature," said Tomas Freyman, valuations partner at BDO. "The figure given implies a price / revenue multiple in excess of eight times, compared to around 5.5 for Google and just 3.5 for Apple.
“Around 25pc of Spotify’s subscribers are paying customers, and with no new methods of monetising the service on the horizon, the revenue multiple can be considered high. Whilst losses continue to mount,cheap jordans for sale, time will tell if Spotify is able to appropriately monetise its user base and meet the cash flow expectations of investors and in turn live up to its $8.53bn value.”
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As physical purchases and...sales continue to decline,cheap wholesale jordans, the competition in the streaming market is intensifying.
The launch of Apple Music, the iPhone maker's answer to Spotify,cheap air jordans, was announced earlier this week and will offer music streaming, downloads and internet radio for $9.99 a month.
Jay Z launched his own rival service earlier this year, called Tidal, which came with the backing of several high-profile celebrities just months after Taylor Swift removed her catalogue from Spotify in a spat over artists' compensation.
Spotify raised $250m at its last round of funding in 2013,cheap jordans online, having collected $100m the year before.